Importing and exporting goods is a lucrative business, which can turn costly if you don’t know what you’re doing. So what’s the difference between a thriving business selling imported goods and a struggling one with a warehouse full of imported goods? How is one business having high-profit margins on imports and exports while another spends so much on international shipping? Here are five things successful international shippers know to make their business successful.
Emphasise service over price – Price is the main factor when looking for a freight forwarder or a global shipping company. Successful international shippers know, however, that price isn’t the most important thing when searching for companies to handle their imports and exports. Regarding freight forwarders, service outweighs the freight rate pricing offered. Service is two-fold. Successful international shippers know the services they need and make sure that their shipping company can provide such services. International shippers pay close attention to the shipping company’s customer service efficiency. Don’t emphasise price over service.
Recognise the importance of experience – Successful international shippers usually go with experienced freight forwarders or shipping companies. The global shipping industry is complex. Several factors, from international law to customs clearance and dock-worker strikes to piracy, may affect the delivery of your goods. Therefore, you need a freight forwarder familiar with the ins and outs of the international shipping industry. If issues arise, international shippers working with an experienced freight forwarder or shipping company may have confidence that their cargo will be safe, whether through rerouting, properly handled paperwork or cooperation from the freight forwarder or shipping company’s business partners and relationships.
Import what you can sell – Successful shippers import products that they can sell. Shippers are not Walmart or Target to compete with these kinds of stores. Being a successful importer means finding your niche in the market. Many people have gotten into importing with the idea of making big money by importing goods from Dubai and selling them at a profit, but have ended up with a garage full of goods they can’t sell. Successful shippers consider what they are importing very carefully. It isn’t just about picking a fantastic product. Pick one which you can ship in large quantities, sell at a high price and are passionate about.
Stay abreast of shipping industry news – The international shipping industry is volatile. However, successful shippers keep up with what’s happening in international shipping. Working with an experienced shipping company removes the need to be abreast of the latest news in the global shipping industry. The freight forwarder shall pay more attention to these points, helping your shipments move smoothly.